XLM-4h. Are buyers preparing for test $0.5?

12 בינו׳ 2021

The situation on the XLM market looks quite harmonious. If EOS has lost its signs of life after yesterday, then XLM buyers are holding the price of the coin quite firmly.

In fact, from January 7, the correction of the previous wave of growth in the XLM market continues. The price moves in the white channel at reduced volumes. Even yesterday's fall of the XLM cannot be called a collapse, as every 4 hour candle was closed with a pin down.

The frantic demand for the coin was confirmed today, when buyers were able to fully absorb the previous wave of decline. The test of BTC sellers of the critical range $33600-34400 did not affect the XLM market in any way.
Buyers are preparing to punch the correction channel falling up. The final signal for the purchase will be a breakthrough and fixing the price above the range of $0.3-0.32. In this case, the next target of buyers is in the $0.5 mark.

An alternative test scenario of the $ 0.23-0.24 range is possible during a new wave of BTC falls with a target of $ 26,200. However, even in this scenario, XLM looks attractive for growth.
____________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!